New Millennium Bank: SBA Lending Profile
New Millennium Bank is an FDIC-insured bank, headquartered in Fort Lee, NJ. It is active in 18 states, concentrated around NY, NJ, GA. Everything below comes from federal SBA loan records, not from the lender's marketing. This is what it has actually funded.
Loan sizes New Millennium Bank actually approves
The median SBA approval at New Millennium Bank is $550,000. The middle 80% of its loans fall between $150,000 and $2,733,300. The smallest approval on record since 2020 is $50,000 and the largest is $5,000,000. If the amount you need sits far outside that range, this is probably not the right first call, no matter what the website says.
Industries it funds most
| Industry | Loans since 2020 | Share |
|---|---|---|
| Full-Service Restaurants | 42 | 14.9% |
| Nail Salons | 27 | 9.6% |
| Limited-Service Restaurants | 24 | 8.5% |
| Hotels (except Casino Hotels) and Motels | 22 | 7.8% |
| Coin-Operated Laundries and Drycleaners | 18 | 6.4% |
| Car Washes | 17 | 6% |
| Drycleaning and Laundry Services (except Coin-Operated) | 15 | 5.3% |
| Supermarkets and Other Grocery (except Convenience) Stores | 9 | 3.2% |
| Gasoline Stations with Convenience Stores | 7 | 2.5% |
| Cosmetics, Beauty Supplies, and Perfume Stores | 6 | 2.1% |
| All Other Amusement and Recreation Industries | 5 | 1.8% |
| Beauty Salons | 5 | 1.8% |
Borrower profile
- 46.2% of its recent SBA loans went to startups or businesses under two years old, which is high, most SBA lenders skew heavily toward established companies.
- Collateral was taken on 95.7% of its recent SBA loans.
- 0.7% of its loans carry fixed rates; the rest are variable.
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Sources and limits. Figures are derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records (data as of 2026-06-30, retrieved 2026-08-08) and FDIC public institution data. They describe past lending activity only. They are not rate quotes, not current offers, and not an indication that any business will qualify. Lender programs and criteria change. Big Brain Funding is not affiliated with or endorsed by New Millennium Bank.